Outlook Spotlight

AI-Enabled Instahyre Is Helping Fortune 100 Companies And Unicorn Startups To Up Their Recruitment Game

Instahyre has developed InstaMatch, the proprietary technology that mimics a human recruiter and learns from the user's actions. InstaMatch utilizes the potential of machine learning and AI to understand the actions and leverages a very complex set of data points.

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Aditya Rajgarhia (CEO and Co-Founder) and Sarbojit Mallick (CBO and Co-Founder), Instahyre
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As a recruiter, one always feels the weight of the company’s future on their shoulders. But hiring talent shouldn’t feel like one. Filling a position is a more cumbersome task than it appears and traditionally takes a whole lot of time and can do a lot of damage to a company’s bank balance. According to research, a bad hire can cost an employer between 15% to 21% of the employee’s salary, depending upon the industry and seniority of the employee. 

In the present day recruitment space, finding competent and hiring the right talent is like looking for a diamond in the coal mine. The market is full of job seekers and employers, thus a recruiter has to mine them and shape them to fit the company, and of course, the top three problems about that- cost, time, drop-offs. Considering this scenario, Instahyre - an AI-based advanced hiring platform helps companies resolve all of these issues with a product that isn’t just easy to use but also efficient. Additionally, it focuses on reducing the cost of bad hiring by providing top-quality candidates with just one click.

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Founded in 2017 by Aditya Rajgarhia (CEO and Co-Founder) and Sarbojit Mallick (CBO and Co-Founder),Instahyre has been profitable since 2018 in providing zero-hassle job search. In a short span, it acquired clients ranging from top-tier US enterprises such as Amazon, Walmart, Target, Paypal, Uber, VMware, Salesforce, etc., to new age Indian startups like Flipkart, Unacademy, Swiggy, Byjus, etc.

The secret sauce
Instahyre has developed - InstaMatch, the proprietary technology that mimics a human recruiter and learns from the user's actions. InstaMatch utilizes the potential of machine learning and AI to understand the actions and leverages a very complex set of data points. It finds candidates that match the companies' requirements and companies' DNA. Similarly, it shows the candidates the list of job posts they would be suitable for without any spam. It ensures there is zero time wastage on either end and provides recruiters and candidates with a platform to seamlessly connect and have a faster, efficient and improved recruitment process. 

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The growth in numbers
Currently, Instahyre is used by 30,000+ companies including Fortune 100 companies and unicorn startups and 22 million+ candidates for their end-to-end hiring and job search. The company revenue has increased 3x YOY in the last year with a 4x increase in the average ARPA for enterprise and startup clients. 

Commenting on exponential business growth, Sarbojit  ofInstahyre said, “We believe in customer satisfaction and product-led growth, which has turned our customers into product advocates. Our sales are 100% organic owing to the great word of mouth reviews and referrals from existing customers.”

Plans for international expansion
Instahyre aims to make the platform a one-stop solution for sourcing, engaging, interviewing and hiring candidates. Hence, it has constantly been updating and launching new products to make the recruiters' lives easier and better. By 2023, Instahyre plans to expand to the whole IT and non-IT industry in India and then launch in the US and make the product one-stop for all hiring needs. By looking at the client base, Instahyre is moving on the 4x yearly growth trajectory and helping recruiters of various firms and agencies across the country.
 

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